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Corefino, the Future of 21st Century Accounting™, today announced publication of a full page ad in the June 2009 issue of CIO magazine. Offering a unique combination of monthly subscription-based software-as-a-service (SaaS), business process outsourcing (BPO) and a custom-built Web technology portal, Corefino is positioning itself as a clear alternative to costly on-site enterprise resource planning (ERP) installations for routine accounting needs. The company intends to target strategic CFO’s and cloud-savvy CIO’s mid-sized organizations that currently have on-site accounting solutions from the enterprise solution giants SAP and Oracle.

Corefino’s ad, geared toward CIO’s, CFO’s and Controllers looking to cut costs and redeploy resources to more strategic pursuits, cites “the efficiencies of SaaS software, the smartness of Business Process Outsourcing and Best Practices Control of your own safe, secure and customized, on-site financials portal.” Corefino executives say the cost, complexity and difficulty of modifying on-premise ERP systems and retraining financial and technology executives to use them year after year has caused mid-market companies to feel trapped.

“SaaS and cloud computing are changing the way business gets done, which is why we aimed for the forward-thinking executives reading the cloud-focused June edition of CIO magazine,” said Corefino CEO Karen Watts. “Mid-sized companies have been forced into purchasing and maintaining expensive on-premise ERP software and hiring a large staff to handle routine financials. With the advent of cloud computing, however, there is a solid value proposition in place for mid-market companies to outsource financials and take advantage of technology in the cloud. Only Corefino is in the unique position to provide a world-class outsourced team of accounting professionals, off-premise technology available from a wide variety of SaaS vendors, and wrap the solution in Corefino’s custom-built Triple-C™ Platform. We’re changing the game for CFO’s and CIO’s to focus solely on strategic business issues – we’ll handle the routine financials.”

Corefino offers its people-place-platform solution on a monthly subscription-based model tied to processes deployed and company headcount metrics. As new SaaS accounting vendor solutions are introduced, Corefino assesses and partners with those that are the best match for its clients, adds Corefino remote staffing capability via the Triple-C Platform. This custom-built Corefino technology platform leverages the company’s deep financials industry expertise to:

  • Connect companies 24/7 to a Web Portal for viewing their financials
  • Correct information/data flows to accurately stream into accounting programs that ensure accuracy
  • Comply with all current accounting, regulatory and other accounting-related mandates that impact audit-ready representation of financials for streamlined/complete monthly, quarterly, annual closes; pre-IPO or merger activities; Board/venture capital-backed assessments, etc.

About Corefino

Corefino is the ‘Future of 21st Century Accounting’ -- a completely outsourced solution for replacing the aging on-premise approach to performing routine financials. Corefino offers a turnkey people/place/platform combination of outsourced accounting experts, outsourced technology and its Triple-C (Connect-Correct-Comply) Best Practices/workflow framework. By removing the on-site technology and headcount headaches from mid-market CFO’s and Controllers, Corefino helps them to become ‘strategic accelerators’ capable of more meaningful business impact.

Corefino operates on a variety of Software-as-a-Service (SaaS)-based platforms via monthly subscriptions, and has formed strategic partnerships including ADP, EASi and Intaact. Corefino has vertical market expertise in digital home services, electronic gaming, health services, municipal government, regional corporate offices, alternate energy and clean technology focused companies. Corefino services include reconciliation, GAAP-based financials, plus others that facilitate monthly/quarterly/annual closes, IPO and merger preparation, etc. The company was founded in 2004, the Triple-C platform was completed in 2006, and the company received capitalization in 2008 to challenge the mid-market ERP leaders. Corefino, recognized as a candidate for InformationWeek’s 2009 ‘Top 50’ Start-Ups, is based in Sunnyvale, CA. For more information on the company, please see www.corefino.com.

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